Complete tax services with a personal touch.
Helping you keep more of your money & time.
Services
Are you an American citizen living or working in Australia?
Unlike other countries the U.S.A. requires all its eligible citizens and resident aliens who reside overseas to file U.S. income tax returns with the IRS annually and pay tax on world-wide income regardless of where they live.
There are complex rules as to residency to navigate. We can assist you with these complexities.
Also, there are complex annual reporting requirements to the IRS and U.S. Treasury for overseas asset ownership. Failure to get it right can result in hefty fines and penalties and in severe cases jail sentences. It is vital to get this right. We can assist with this reporting.
Are you an Australian citizen living or working in the U.S.A.?
Australians who live in the U.S.A. may be there on a visa or be residents. Either way residents, like U.S. citizens are subject to U.S. tax on world-wide income and are required to file income tax returns with the IRS and pay tax.
Nonresidents may be required to file Australian income tax returns and pay tax. There are differing and complex rules determining residency in each country. We can assist you with your IRS registration and filing needs and with your Australian Taxation Office obligations.
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Tax Preparation
Effective tax preparation can help you to minimize your future tax liability. Taxes may be a certainty in life, but worrying about them doesn’t have to be. For individuals, we can save you time, money and stress by preparing and filing your returns, while claiming every allowable deduction and credit. For businesses, we can help by minimizing your tax liability, while ensuring that you stay in compliance with all federal, state and local regulations.
Our country’s ever-changing tax code places heavy burdens on both individuals and companies, but it also holds extraordinary opportunities if you know where to look. Our experts are here to guide you along the path from basic tax compliance to a strategy for long-term tax minimization.
IRS Representation
Whether you receive an audit notice or just a request for clarification about an item on your personal or business tax return, the thought of facing the IRS by yourself can be overwhelming. Unfortunately, many tax preparers are not prepared to represent you before the IRS. If a problem arises with a return they filed for you, you might be left on your own to resolve the issue.
We will advocate on your behalf and help you and your staff assemble any documentation that IRS agents might request, so that you are never fending for yourself.
By drawing upon years of experience handling audit procedures and tax rules, we can take the stress out of working with IRS agents, and ensure that your rights as a taxpayer are protected and that you pay the minimum allowed by law.
FATCA
FATCA requires financial institution account holders and financial institutions of these accounts to report to IRS details of accounts held by US taxpayers. Taxpayers report in Form 8938 which is lodged with their tax returns. US citizens and residents are taxed on world wide income. Failure to report and understated tax may result in substantial penalties to the taxpayer.
FBAR
Under FBAR the US Treasury requires the details of overseas deposits held by US citizens and residents. A FinCEN Form 114 has to be filed by those with deposits with foreign financial institutions outside the US on balances greater than $10,000.00. This reporting also applies to US entities such as corporations which hold overseas assets. Substantial penalties, fines and even jail in severe circumstances are imposed on those who fail to report. FBAR have to be filed with the US Treasury by October 15th annually.
VDP
IRS describes the Voluntary Disclosure Program (VDP) as a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a willful failure to report foreign financial assets and pay all tax due in respect of those assets. VDP is designed to provide to taxpayers with such exposure (1) protection from criminal liability and (2) terms for resolving their civil tax and penalty obligations.
Business Consulting
Business success depends on timely identification of both problems and opportunities, and efficient development of strategies to respond to both. As your trusted business consultant, we combine dedication to your success with wide-ranging business acumen to offer honest, objective advice on everything from minor restructuring to preparing a business for sale.
We will take the time to learn about your company’s unique challenges, goals and current strategies. We then draw on years of business analysis experience to help you address inefficiencies, and identify and capitalize on hidden growth potential. We empower you and your team to make well-informed choices for the future of your business.
Whether you need short-term assistance with a major transition, or a long-term partner in strategic planning, we can help you unlock the full potential of your business.
Business Entity Selection
The way you structure your business has far-reaching tax and financial implications. Each business entity class—partnership, LLC, sole proprietorship, S corporation, etc.—has distinct advantages and disadvantages with respect to tax liability, personal asset protection, operational structure, and more. Selecting the best entity type for your company requires careful analysis of your business objectives.
We will thoroughly review your current transactions and business plan with you to help you find the ideal structure for your business. And because the best entity designation today might not suit your evolving needs in the future, we will also provide guidance on how to regularly reassess your business structure, and change it if appropriate.
Estate & Trust Tax Preparation
Estate matters affect everyone. By taking proactive steps today, you can ease the way for your heirs during a very difficult time. Our services include estate planning to simplify property transfers to heirs, minimizing tax liability so heirs receive the maximum benefit, and tax preparation after a loved ones’ passing.
We will work with you and your attorney to structure your estate and/or trusts with an eye toward minimizing tax liability, smooth fulfillment of your bequeathal directives and, when possible, avoidance of the long process of probate. In the event that you wish to begin distributing assets to your heirs during your lifetime, we can also assist with IRS gift reporting requirements.
When a loved one passes away, we can prepare and file any required final tax returns for the decedent and any associated trusts. We lift the paperwork burden off your shoulders, so you can focus on the far more important matter of spending time with your family during a difficult transition.
Retirement Planning
Whether you are devising your personal retirement strategy or choosing a retirement plan to offer your employees, we can help you find the best options for you. Drawing on years of experience in retirement strategy, we will work with you to develop a retirement plan designed to withstand the economic ups and downs that inevitably occur over time.
For businesses, we can carefully review the unique financial realities of your company and employee population, so you can offer retirement plans that serve everyone’s best financial interests. We can also educate key personnel about compliance issues associated with each plan, empowering them to manage the plans effectively going forward.
For individuals and couples, retirement is deeply personal and we take pride in working with our clients on an individual basis to determine a strategy that fits your unique financial situation, risk tolerance, and long-term goals.